Argentinian central bank removes $5m dollar conversion cap
New measures aim to make it easier for businesses to acquire dollars
The Central Bank of Argentina has removed a $5 million cap on how much currency individuals and businesses can covert to US dollars.
The central bank also announced there would be a reduction in the amount of paperwork businesses will have to complete to justify their dollar purchases – they will now need to fill in 70 categorisation boxes, rather than 315.
Joaquin Cottani, chief economist for Latin America at Standard & Poor's, says the measures are designed to "facilitate capital outflows at a
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